Decline in new car sales in Louth

SIMI/DoneDeal report released

Donard McCabe

Reporter:

Donard McCabe

Decline in new car sales in Louth

Report shows a decline in new car sales in 2017 in Louth

The Society of the Irish Motor Industry (SIMI), in association with Done Deal, released figures this week that show a decline in new car sales for the first six months of 2017 when compared with the first six months of 2016.

The Q2 Motor Industry Review of 2017 shows that for the year to date in Louth, 2,515 cars have been registered.

This compares with 2,895 car registrations for the first six months of 2016, representing a drop of 13.13%.

This decline is also reflected across the country, with new car sales declining in every county.

According to Done Deal 6,872 car ads were placed on their site from Louth in the first six months of 2017. The value of the cars advertised was €51,944,461.

The top selling car in Louth was the Nissan Qashqai, the number of cars sold for the period (Jan-July) was 2,515 down from 2,895 representing a decline of -13.13%.

A combination of factors is attributed to this decline, according to the SIMI/DoneDeal report, including rising housing, rental and insurance costs and uncertainty surrounding Brexit.

These factors were affecting disposable income spending and making consumers cautious about purchasing big ticket items such as new cars.

Commenting on the figures in the report, Gavin Hydes SIMI President commented:

'New car sales remain steady, but have not hit the heights of the first half of 2016.

'Rising living costs and the uncertainty caused by factors such as Brexit continue to weigh on the new car sector.

'In this context SIMI dealers will continue to offer value to their customers in sales of both new and used cars.'